says the crypto strategist who nailed the Bitcoin crash in May 2021 BTC Flashing signals indicate that the king cryptocurrency is preparing for a massive move to the upside.
An analyst who goes by the pseudonym Dave the Wave tells his 134,500 Twitter followers that many technical indicators are heading to the upside for BTC.
The real potential for BTC to move is huge [manage risk to both sides]:
- MACD weekly [moving average convergence/divergence] in the same area
- The histogram has also been extended
- The price is in the lower band/buy zone.”
Looking at the Dave the Wave chart, Bitcoin seems to be tracking the technical setup of the second quarter of 2019, when BTC surged from around $4,000 to $14,000 in a few months. According to the analyst, the MACD, which is a trend reversal indicator, is currently hovering in the same area as before BTC’s 2019 rally. The histogram, which measures the convergence or divergence of moving averages, is also going up and up, similar to Bitcoin’s Q2 2019 setup. .
The crypto strategist says that Bitcoin could explode by 676% by 2024 based on his Logarithmic Growth Curve (LGC) model.
“Bitcoin technical target of $180,000 late next year…”
LGC is an analyst’s attempt to predict Bitcoin’s boom and bust cycles amid changing macroeconomic conditions.
According to Dave the Wave, the LGC model is built for long-term Bitcoin investors.
“BTC charts for investors – buying in a few tranches over a reasonable period of time…with the price in the ‘buy zone’…may be a good investment for the future.”
At the time of writing, Bitcoin is changing hands for $23,171, which is a partial increase on the day.
Don’t miss out – Subscription Get encrypted email alerts delivered straight to your inbox
check price action
Follow us TwitterAnd Facebook And cable
browse Daily Huddle Mix
Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.
Featured image: Shutterstock / marymyyr / Chuenmanuse
“Reader. Infuriatingly humble coffee enthusiast. Future teen idol. Tv nerd. Explorer. Organizer. Twitter aficionado. Evil music fanatic.”